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29Metals Limited (ASX:29M)

ALERT: Price-sensitive ASX Announcement for 29M
Current share price for 29M : $0.263 0.028 (11.70%)+
Announcement
Release
15 Jul 2026 8:23AM
Price at Release
$0.235
Full Release
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Summary
The June 2026 Quarterly Report for 29Metals Limited highlights key operational and financial performance metrics for the quarter. The report details the production activities at Golden Grove, noting a predominance of copper ore milling due to the temporary suspension of mining at Xantho Extended, resulting in lower copper production but increased zinc and gold output. The report also covers cost management strategies and increased capital development expenditures, especially for the Gossan Valley project, which is on track for initial ore production by the end of 2026. The report underscores a focus on cost reductions amidst inflationary pressures and outlines ongoing and future development projects, emphasizing continued exploration success and potential mine life extensions at key sites.
Key Points
  • Ore milled predominately copper ore, with 291kt copper vs 72kt zinc ore.
  • Copper production decreased to 4.8kt from 6.4kt in previous quarter.
  • Gold production increased due to successful blending trial with copper ore.
  • Site costs contained at $96 million despite industry inflation pressures.
  • Higher C1 unit costs due to lower copper sales and stockpile movement charges.
  • Progress in capital development at Oizon and Xantho Extended.
  • Gossan Valley project on track for first ore by end of 2026.
  • Continued exploration success and potential mine life extensions.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.